Globalization and economic inequality in the short and long run: The case of South Korea 1975-1995
AbstractWe analyse the determinants of the Gini coefficient for income and expenditure in South Korea between 1975 and 1995. In both cases, we do not find support for the Kuznets inverted-U hypothesis. From an economic globalization viewpoint, the opening of goods markets reduces income inequality in both the short run (the Gini coefficient for income) and the long run (the Gini coefficient for expenditure). On the other hand, the opening of capital markets increases income inequality in both the short and the long run, although the latter is not statistically significant. These results suggest that the effect of economic globalization on income inequality has two routes and two different speeds.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Asian Economics.
Volume (Year): 20 (2009)
Issue (Month): 1 (January)
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Globalization Economic inequality Gini coefficient South Korea;
Other versions of this item:
- Sumie & Mototsugu Fukushige, 2007. "Globalization and Economic Inequality in the Short and Long Run: The Case of South Korea 1975-1995," Discussion Papers in Economics and Business 07-43, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
- R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis
- D30 - Microeconomics - - Distribution - - - General
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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